Business Desk :
The Bangladesh chapter of Global Economist Forum (GEF) thanks all state parties to conclude a year with peace, prosperity and economic gains at the rate of 7.2 percent GDP growth. The GEF also expects around 7 percent growth in 2018, says a press release.
The GEF President and Managing Director of Exim Bank Limited Dr Mohammad Haider Ali Miah told that the GDP growth in 2017 was higher than expected as consumption picked up in response to rising income, and as public investment strengthened. Inflation was lower than projected, and the current account moved into deficit, as expected, with a wider trade deficit and lower remittances.
The GEF Secretary General and Managing Director of Standard Bank Limited Dr Mamun-Ur Rashid said, “For 2018, this update retains the Global Economist Forum growth projection but anticipates slightly lower inflation and a larger current account deficit. Recent flooding is unlikely to affect growth, which could improve if infrastructure development accelerates,” Mamun-Ur Rashid added.
Bangladesh’s economy is expected to grow at 6.9 in 2018 while the inflation will remain within 6 percent, according to latest assessment of GEF.
Dr. Haider Ali Miah said: Bangladesh attained 7.2 percent GDP growth in the last fiscal year despite ADB and WB forecast of 6.9 percent growth while Bangladesh was able to contain inflation at 5.4 percent in the last financial year although the Manila-based lending agency- ADB- earlier had forecasted it at 6.1 percent.
Dr. Mamun-Ur Rashid said: Risks to the outlook have become more balanced, as the advanced economies have so far avoided sharp, unexpected changes to their macroeconomic policies. Further, the fuel price rise will make costlier of the consumer products and export commodities, including readymade garments.
The Bangladesh chapter of Global Economist Forum (GEF) thanks all state parties to conclude a year with peace, prosperity and economic gains at the rate of 7.2 percent GDP growth. The GEF also expects around 7 percent growth in 2018, says a press release.
The GEF President and Managing Director of Exim Bank Limited Dr Mohammad Haider Ali Miah told that the GDP growth in 2017 was higher than expected as consumption picked up in response to rising income, and as public investment strengthened. Inflation was lower than projected, and the current account moved into deficit, as expected, with a wider trade deficit and lower remittances.
The GEF Secretary General and Managing Director of Standard Bank Limited Dr Mamun-Ur Rashid said, “For 2018, this update retains the Global Economist Forum growth projection but anticipates slightly lower inflation and a larger current account deficit. Recent flooding is unlikely to affect growth, which could improve if infrastructure development accelerates,” Mamun-Ur Rashid added.
Bangladesh’s economy is expected to grow at 6.9 in 2018 while the inflation will remain within 6 percent, according to latest assessment of GEF.
Dr. Haider Ali Miah said: Bangladesh attained 7.2 percent GDP growth in the last fiscal year despite ADB and WB forecast of 6.9 percent growth while Bangladesh was able to contain inflation at 5.4 percent in the last financial year although the Manila-based lending agency- ADB- earlier had forecasted it at 6.1 percent.
Dr. Mamun-Ur Rashid said: Risks to the outlook have become more balanced, as the advanced economies have so far avoided sharp, unexpected changes to their macroeconomic policies. Further, the fuel price rise will make costlier of the consumer products and export commodities, including readymade garments.
